The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-04-24
FINANCE AND MINING
What the Interstate Law is
Doing.
HOW LOS ANGELES Is DOOMED
Real Estate-Bank Receipts-ore and
Bullion Output-From the
Mines.

| 1ne week mas Deen one OF even LraQe
The only features have been the organ
iz&tion of the Board Of Trade into
working order, and the continued activ
ity in real estate circles. The main
deals of the week not quoted previously
will be found in another part of THE
SUNDAY HERALD.
No transfers of local stocks are
quoted. Gas stock is offered at $75. :
Dun's review of trade, under date of
the 10th, says: when Carlyle said it
would be found impossible to get wise
laws from the suffrage of sundry mil
lions, mostly FOOLS he seems to have
had a provision of the Interstate Com
merce Act. The chief feature of the
week, in commerce and industry, is the
embarrassment resulting from this Ell
actment. No one yet knows what its
effects will be, but millions who favored
1t already see that its workings do not
help them. The commission has not
yet suspended the operation of the
short haul clause for northern roads
generally, but one United States court
has held it not applicable to an Oregon
road, and another has ordered Texas
road in he hands of receiver to dis
: gard th. provision, and no one can
guess what changes in rates NAV at any
time be made by orders of courts. or
the Commission. The general effect
thus far is to largely increase cost of
transportation, and to impede, or arrest
distant shipments. Western distribut-
ing cities fnd that 1t threatens to trans
fer much of their trade to minor towns. |
On the other hand, it helps some |
people. Thus, manufacturers fad
nearby markets more within their con.
troll, and domestic ore producers find |
foreig4 iron ore practically excluded |
from many points of large consump-
tion.
Considering the embarrassment from
uncertainty as to freights, accounts of
trade are surprisingly satisfactory. At
many points. it is true, merchants, as
yet, think only of the general trade of
the year thus far as decidedly better
than that of any previous year; at
others the present dizziness or stagna-
ton is considered but temporary and
most hopeful feeling prevails; but it is
retail trade is unusually Large. No en-
oarrassment appears in collections. ex-
,ept where real estate or mining specu-
alton locks up all available means, or
2 some localities where bad roads block
but in most eases improve
nent is reported" -e3-af
l.. S. Hills, cashier of the Deseret Ma
ional Bank, has returned from a brief +.
Ilslt to his brother in Los Angeles. and I
brings some intelligence of what an acs
ual boom resembles. "They are all mad
Town The e;' he said cor the'next thir z
o 1t. The rush, activity and go are
'omethlng marvellous. Rents are 100 per
,ent, higher than in Salt Lake. and :
iespite the number of buildings
hey are rushing up, there seems to be
10 oYerplus of houses. You can drive :
our or five miles from the center of
own, and you wi find them laying out
lty lots in the fields. They build side
5alkks of Portland cement and make Ii
treet crossings just as if the houses y
5ere already there, and to look at it, :
seems as if the buildings were to be
INSTRUCTED somewhere else, and set
own in their places bodily. While I
Tas there they staked off town about :
en- miles out OF the city, marked the Y
rices on the plot and advertised that :
hey would be sold on a certain
ay. the first conner to have first
hoice. The line formed twenty-four 4
ours in advance just as they do at the =
,heatre, and some fellows sold their :
laces in the line for a substantial .
CURE. Most of the building is being I
one by eastern people who probably :
ave an invalid in the family, and
Tho are settling in Los Angeles on &C
punt OF the climate. But they are all
ea estate mad, and if the day doesn't F
VIII
ne boom, l shall be long way out IN
~ reckoning" e
MIR. Hills did not think there was y
ny foundation here for trade boom n
t present; the activity in the real b.
state market, however, might bring a &C
Ind boom, he thought, as such things n,
ere contagious, and the fever seemed o.
be mounting. Is